Money Laundering: McAfee has a new report on the coins on line

New post on Public Informer Digital Money laundering: McAfee launches new report on currencies on line by Public Informer McAfee Labs research center McAfee overall, with more than 350 multidisciplinary researchers and analysts of information security, the report revealed this week Digital Laundry (“Wash Digital”) that shows how cybercriminals are using online coin laundry money. Before the closure of its operations, service digital currency Liberty Reserve was used to launder more than $ 6,000 million, an amount that represents the largest prosecution of international money laundering in history. However, Liberty Reserve is not the only digital currency used by criminals and the proliferation of these services fuels the growth of cyber crime. The use of these coins goes beyond the propensity to money laundering because they contain attacks on financial exchanges and malware attack developed for digital portfolios. Digital coins to be reliable, instant and anonymous. Even if privacy issues were raised in relation to specific currencies (particularly the Bitcoin), the market responded with extensions to provide greater anonymity. In the analysis of McAfee Labs, the market response is an important point, because, regardless of the actions of the authorities against virtual currency companies, the “users” of such services quickly identify new platforms to launder their money. Even there is a process that allows the production of digital currencies, known as “mining”, although at first people to use their own resources to the production of digital currencies. In June 2011 Bitcoin generator allowed high traffic sites computer visitors used to produce digital currencies. The visitors were not informed of this in all cases, creating bots (robots) malicious. The European Central Bank indicates basic differences between virtual currencies and electronic financial schemes. Electronic money unit uses a traditional value and regulated; digital currencies are not regulated and use money “dummy”. The facility is one of the biggest benefits of digital currency and electronic money, buy them in exchange certain services may require registration processes, but in some cases, it is only sufficient to provide funds. The digital currency Bitcoin is time, combining cryptography with architecture peer-to-peer, which makes the identification of suspicious users and obtaining transaction logs. However, decentralization is not without vulnerabilities. Attempts to close the digital currency services have caused criminals simply transfer their business to other places. Despite being an attractive proposition for cybercriminals, global authorities are working together internationally and with the private sector to identify and arrest the individuals operating these platforms. “The virtual currencies are not going away. Despite the apparent challenges presented by DoS attacks (Denial of Service), the use of these services in exchange for money laundering and cybercrime, there are many opportunities for legitimate purposes. Ignore this market opportunity can cost legitimate potential investors significant revenues, but the inability to deal with the potential risks can cost much more, “says Raj Samani, vice president and CTO (Chief Technology Officer) McAfee EMEA . (CCN)